Overview

Freehold property is free from hold of any entity other than the owner on legal grounds. As an owner of this type of property, you have the right to use your property for any purpose as per the regulations of where your property is located. The sale of such a property requires less paperwork than other properties. The reason for this is that it you do not need any request authorization from the state. This is also the reason why it is costlier than leasehold property. It is inheritable and you can transfer the property to anyone as per your discretion. We at Your Property Doctor can help you exercise your rights of your freehold properties.

Key Elements of Freehold Property

• Financial Implications: Basically, freehold properties are in great demand in real estate market, as it offers property ownership advantages. This attribute makes these properties more expensive than leasehold properties.

• Full Control and Autonomy: As an owner of a freehold property, you get to enjoy full property control. You are free to renovate, modify, or even demolish the existing structures, provided you have the permission from the concerned authorities. This autonomy allow you to customize your property according to your preference.

• Permanency: Permanency ensures permanent property ownershipof freehold property. Quite contrary to leasehold properties, it lasts for indefinite period. It can be sold, inherited, or willed to successors, creating financial stability and lasting legacy.

• Market Trends: Since real estate market is fluctuable, it can impact the valuation of a building.  

Advantages of Owing Freehold Property

• Freehold property allows you to have complete freedom. You have full control over the premises of your property. You do not need to make any type of payment, such as service charges, ground rents, or any other kind of charges.

• You know what amount of money you need to spend for buying this property. It has no restriction regarding visitors, and time.

• You can do whatever you legally wish to do within the premises of your property. You do not need to be accountable to anybody else.

Your Rights as Freehold Property Owner

• No restrictions on you to transfer your property

• No encumbrance to the absolute freehold title of the property

• You can transfer it to anyone by registration of a sale deed

• When you purchase a freehold property, you become owner of the land it was built one, along with the house itself.

• If the freehold property is an apartment, you become a shareholder in this property.

• Finally, you have the right to live this house as long as you wish. You can also renovate it.